The Bank of England (BoE) is set to hold its policy rate flat for a sixth meeting in a row on Thursday amid persistent disinflationary pressure in the UK and investors’ repricing of interest rate reductions earlier than anticipated.
UK central bank is seen keeping its policy rate intact at 5.25%. Bank of England is seen reducing its rates by 75 bps this year. GBP/USD should maintain its recent familiar range in the wake of the event. The Bank of England is set to hold its policy rate flat for a sixth meeting in a row on Thursday amid persistent disinflationary pressure in the UK and investors’ repricing of interest rate reductions earlier than anticipated.
” How will the BoE interest rate decision impact GBP/USD? Despite inflation continuing to trend lower in March, the central bank is unlikely to change its tone to a more relaxed one and hence give a more solid signal towards the potential timing of the interest rate reduction. While surprises have been practically ruled out, the British Pound is seen maintaining its current familiar range for the time being.
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